The Panel has declined to conduct proceedings on an application dated 17 April 2013 from National Exchange Pty Ltd in relation to the affairs of Winpar Holdings Limited.
The application concerned alleged association between Gordon Elkington (and other Elkingtons), Steven Pritchard, John Honan and Anton Rosenberg and a placement of Winpar shares to them (and others), announced on 31 December 2012. The placement funded Winpar's acquisition of shares in Penrose Club Holdings Limited. The application also concerned the conduct of the Winpar 2012 annual general meeting (see MR 13/09).
The Panel considered that the applicant had not provided sufficient evidence of association to support its application and concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances. Accordingly, the Panel declined to conduct proceedings.
The sitting Panel was Garry Besson (sitting President), Anthony Sweetman and Heather Zampatti.
The Panel will publish its reasons for the decision in due course on the Takeovers website.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597